ગુજરાતી
English
BJP’s Slogan: “Pay Up, Get Work Done” — Uncover All the Details Regarding Torrent
Dilip Patel
Ahmedabad, April 8, 2016
Torrent Power Limited’s annual property tax liability was reduced from ₹26 crore to ₹4 crore.
Prior to this, in 2019, a fine of ₹18.50 lakh was imposed on Torrent Power in the North-West Zone; however, this amount remained unrecovered for a considerable period. The company conducts business worth ₹30,000 crore annually. In the 2024-25 fiscal year, the company’s profits surged by over 58%.
The Ahmedabad Municipal Commissioner facilitated a financial gain of ₹66 crore for Torrent over a span of three years.
Between 2019 and 2024, a total of ₹185 crore was donated to political parties through Electoral Bonds. Torrent Power alone contributed ₹125 crore to political parties. Between April 1, 2019, and February 15, 2024, industrialists across the country purchased 22,217 bonds; of these, 50% went to the BJP, while a mere 11% was directed to the Congress party. The Torrent Group contributed a total of ₹184 crore. Citizens are routinely issued notices for the recovery of taxes. The city of Ahmedabad comprises 3 million (30 lakh) properties, generating an annual property tax collection of ₹1,833 crore. During the final week of March 2026, 14,500 properties were sealed due to tax defaults. On March 7, 2026—in a single day—5,500 properties were sealed, resulting in the collection of ₹5.50 crore. On March 27, 2026, another 6,526 properties were sealed. The infrastructure includes telecom lines, Adani Gas pipelines, and electric cables; however, TV or internet cables are currently exempt from taxation. If such cables were to be taxed, it could potentially generate an annual tax revenue of ₹1,000 crore. However, political parties leverage their influence over TV and internet companies to conduct their election campaigns.
Funds for campaign activities are also reportedly solicited from the Torrent company during official meetings.
Following pressure from higher authorities, the Commissioner has waived dues amounting to ₹65 crore owed by the Torrent company.
Torrent submitted an application, and the tax liability was subsequently waived.
**Cable Rental Charges**
It is claimed that Torrent has laid 5,270 km of cables across Ahmedabad, covering an area of 1.7 million square meters. For the fiscal year 2023–24, a bill amounting to ₹26.26 crore was issued to Torrent. In 2024–25, a bill of ₹26.80 crore was issued. Over these two years, a total tax revenue of ₹53 crore was due for collection.
However, instead of the annual ₹26 crore, only ₹4.85 crore was paid each year.
This alleged scam has now effectively received a legal seal of approval, as no formal proposal regarding this matter was ever presented before the Standing Committee. Any modification or waiver of taxes requires prior approval from the State Government.
A total of 4,507 objections have been raised, primarily concerning the Accounts, Tax, and Engineering departments.
Tata, BSNL, Reliance, Torrent, Adani—these are the key players involved.
No rental charges are currently levied for mobile phone towers.
As of 2013, there were over 1,000 such towers within the city; that number has now tripled.
**Cable Length Discrepancy**
Torrent Power submitted an application stating that it possesses 5,268 km of cables. Conversely, in other records, Torrent has declared a cable length of 4,730 km—a significant discrepancy.
Furthermore, according to other available information, Torrent Power operates a 249-kilometer-long, 400 kV double-circuit transmission line dedicated to supplying electricity from the SUGEN plant to Ahmedabad.
The company manages a transmission system—primarily operating at 220/132 kV levels—within the Ahmedabad distribution area, connecting various substations across the city.
The company also owns a manufacturing facility capable of producing XLPE cables rated up to 132 kV. It is estimated that more than 10,000 kilometers of underground 11 kV and 33 kV cables have been laid in Ahmedabad.
The length of the 440V cables—which reach residential societies and individual homes via Low Tension (LT) cables—is estimated to exceed 15,000 kilometers.
**Cables in Ahmedabad and Surat**
Combining both Ahmedabad and Surat, Torrent Power’s total distribution network spans 39,281 circuit kilometers (ckt km).
There are a total of 7,970 substations (at the 33 kV and 11 kV levels) across Ahmedabad and Surat.
Thanks to the underground network in Ahmedabad, T&D losses (wastage or theft of electricity) stand at a mere 5.61 percent—the lowest figure in India.
This raises a pertinent question: why, then, are the electricity tariffs higher than those charged by the government-run power utility?
**Fines**
In 2019, a fine of ₹10 lakh was imposed on Torrent Power Limited for laying cables without proper supervision, for dangerously disregarding public safety, and for disrupting civic services and sanitation operations.
**Threat to Life**
In 2019, even the administrators of the Ahmedabad Municipal Corporation (AMC) grew exasperated with Torrent Power’s arrogance; a formal representation was submitted to the Municipal Commissioner, urging him to initiate legal action against the company for laying exposed live wires and cables on public roads across various parts of the city.
In this regard, Shahnawaz Shaikh, the Corporator for the Jamalpur ward, submitted a letter to Municipal Commissioner Vijay Nehra.
**A Rap on the Knuckles from the High Court**
The Gujarat High Court came down heavily on Torrent Power for levying exorbitant electricity bills on consumers in Ahmedabad and for harassing them under the pretext of “illegal connections.” The Court expressed its strong displeasure over Torrent Power’s arbitrary conduct. The High Court took Torrent to task for altering electricity meters or changing regulations under a new policy without obtaining the consumers’ consent. The Court reprimanded the company for harassing ordinary consumers and for filing false cases under the guise of conducting raids. The High Court also expressed its displeasure regarding the additional charges levied upon consumers.
Refunds
Refunds and Penalties: In certain instances, the Court has issued directives to refund amounts previously deposited or to make payments inclusive of interest.
Fly Ash
Gujarat High Court, Ahmedabad – R/Special Civil Application No. 16211 of 2018
The Petitioners (Torrent Power Limited and others) sought a directive for the refund of Rs. 46,43,174, which had been deposited under protest for the year 2006-2007. The company operates a coal/thermal power plant, and as a by-product…
…generates fly ash. Ministry of Environment and Forests, dated September 14, 1999.
According to the notification, the petitioners provided fly ash free of cost to cement/brick manufacturers and executed a Memorandum of Understanding (MOU). They neither deposited nor paid any tax on the administrative charges levied. The petitioners filed this writ petition under Article 226 of the Constitution, seeking a refund along with interest.
Supreme Court
Setting aside certain provisions of the High Court’s order, the Supreme Court directed Torrent Power to deposit a sum of approximately ₹19.28 crore into the Consumer Welfare Fund, as it was deemed practically unfeasible to refund this amount directly to the individual customers.
New Connections and Outstanding Dues:
According to another judgment by the High Court, a utility company cannot forcibly recover outstanding electricity dues owed by a previous owner from a new customer (such as a purchaser of the property in an auction), provided there is no encumbrance attached to the said property.
Double Electricity Bills
In 2019, it appeared as though the Ahmedabad Municipal Corporation had resolved to fleece the public; they continued to impose burdens on the people in one way or another, and this time, Torrent Power has joined forces with them. Five community halls in the city suddenly decided to charge hall tenants double the electricity rates displayed on the meters and have commenced collecting payments from the public based on these new rates. This decision was taken pursuant to a letter issued by Torrent Power.
₹500 Crore Profit
On Wednesday in 2024, Torrent Power reported a 7.6 percent decline in its consolidated net profit for the quarter ending March 2024 (a three-month period), a drop attributed primarily to increased expenses. The company had reported a profit of ₹447 crore for the quarter ending March 2023; however, a subsequent BSE filing revealed that the actual figure stood at ₹484 crore. **Profit**
Torrent Power’s consolidated net profit over the last five years witnessed a significant surge in 2025.
**Torrent Power: Annual Net Profit (Consolidated PAT)**
Financial Year | Net Profit (in ₹ Crores) | Year-on-Year Change
2024-25 | ₹ 2,851 | +58.6% Growth
2023-24 | ₹ 1,896 | -12% Decline
2022-23 | ₹ 2,165 | +36% Growth
2021-22 | ₹ 1,588 | +24% Growth
2020-21 | ₹ 1,284 | –
The company’s profit grew by over 58% in 2024-25, driven primarily by robust demand in the power sector and efficient generation.
Buoyed by strong profits, the company also declared a final dividend of ₹ 5 per share for the financial year 2025.
**Total Revenue**
The largest portion of the company’s total revenue (approximately 89%) is derived from its transmission and distribution business.
In the fourth quarter of 2023-24, the company’s revenue stood at ₹ 6,529 crores, compared to ₹ 6,038 crores in the fourth quarter of the financial year 2022-23. For the full financial year 2023-24, the company’s revenue was ₹ 27,183 crores, up from ₹ 25,694 crores in the financial year 2022-23.
**Revenue in Ahmedabad**
Torrent Power’s revenue from electricity operations in Ahmedabad and Gandhinagar consists primarily of revenue generated from the sale of electricity. Ahmedabad Generation Revenue (in Crores)
2024-25 – Rs. 1,700+
2023-24 – Rs. 1,534.13
2022-23 – Rs. 1,354.56
2021-22 – Rs. 1,100+
Total Revenue
Total consolidated revenue includes distribution and generation units across Ahmedabad, Surat, Dahej, and other states. Total Consolidated Revenue (in Crores)
2024-25 – Rs. 29,165
2023-24 – Rs. 27,183
2022-23 – Rs. 25,694
2021-22 – Rs. 14,258
Comparison with Other Companies
Torrent Power’s charges (tariffs) compared to other power companies in the country.
In Gujarat, the base tariff rates for government-owned power companies (such as MGVCL, DGVCL) and Torrent Power are generally maintained at the same level by the Gujarat Energy Regulatory Commission (GERC). However, the primary difference is observed in the FPPPA (Fuel and Power Purchase Price Adjustment) charges:
For the financial year 2024-25, Torrent Power’s FPPPA charge in Ahmedabad and Gandhinagar has been approximately Rs. 3.51 per unit.
For government-owned companies, this charge ranges from approximately Rs. 2.85 to Rs. 2.88 per unit.
Consequently, Torrent Power customers may face slightly higher bills due to this fuel surcharge.
Adani Power: In recent tenders, Adani Power won a bid to supply electricity at Rs. 4.08 per unit, which was lower than Torrent Power’s bid. Electricity Rates in Ahmedabad
Torrent Power’s electricity rates for residential customers in Ahmedabad are as follows:
Monthly Consumption (in Units) | Energy Charge (per Unit)
First 50 Units | Rs. 3.20
51 to 100 Units | Rs. 3.90
101 to 250 Units | Rs. 4.25
Above 250 Units | Rs. 5.05
Fixed Charge (Monthly)
For Single-Phase Connection | Rs. 25 to Rs. 65 (depending on load)
For Three-Phase Connection | Rs. 100 to Rs. 140 (depending on load)
Special Note: FPPPA and Taxes
In addition to the rates mentioned above, the following charges are also added to the bill:
FPPPA – The Fuel Surcharge Rate changes every three months. Currently, it is charged at approximately Rs. 2.80 to Rs. 3.50 per unit.
Electricity Duty (ED) is a tax levied by the government.
Rates in Surat
Torrent Power’s electricity rates in Surat are determined by the Gujarat Energy Regulatory Commission (GERC). According to the tariff applicable from June 1, 2024, to April 2025, the key rates for residential customers are as follows:
Monthly Consumption (in Units) | Energy Charge (Rs./Unit)
First 50 Units | Rs. 3.20
51 to 100 Units | Rs. 3.90
101 to 250 Units | Rs. 4.25
Above 250 Units | Rs. 5.05
Fixed Charge (Monthly)
Single-Phase Connection | Rs. 2
Rs. 5 to Rs. 65 (depending on the load).
Three-phase connection: Rs. 100 to Rs. 140 (depending on the load).
In addition to the base energy charge, there is a provision to levy a fuel surcharge at a rate of approximately 11.60% (adjustable)—based on monthly consumption—for the first quarter of 2025-26.
BPL – Concessional Rate: For customers Below the Poverty Line, a rate of Rs. 1.50 per unit is applicable for the first 50 units.
Non-Residential
Rates for residential and industrial consumption vary based on the consumption load and voltage, generally ranging between Rs. 4.50 and Rs. 5.80.
Electricity Taxes Paid to the Government
The taxes that Torrent Power pays to the government are primarily of two types: the company’s own Income Tax and the Electricity Duty collected from customers.
In 2023-24, the company’s Profit Before Tax (PBT) was approximately Rs. 2,583 crore.
The company is generally subject to corporate tax rates ranging from approximately 25% to 30%.
In 2024-25, the company has availed the benefits of the new tax regime to optimize its tax liability.
It levies an 18% GST on meter rent, testing fees, and application fees, which is deposited with the government.
In the financial year 2024-25, the Government of Gujarat collected a total of Rs. 11,741 crore from all companies through Electricity Duty, of which a significant portion was contributed by Torrent Power’s customers.
Government’s Electricity Duty Revenue –
Government of Gujarat’s Electricity Duty Revenue (in Crores)
2024-25: Rs. 11,741 (Estimated)
2023-24: Rs. 10,630 (Revised Estimate)
2022-23: Rs. 9,005
2021-22: Rs. 8,432
2020-21: Rs. 7,514
In the single month of February 2026, the government collected revenue amounting to Rs. 905 crore under the head of Electricity Duty.
Electricity Duty:
This tax is collected by the company through customer bills and is deposited directly with the State Government.
In just one month—April 2021—approximately Rs. 23.21 crore was paid to the government as Electricity Duty within the Ahmedabad distribution area. On an annual basis, this figure runs into hundreds of crores.
Penalties:
Recently, the Supreme Court ordered Torrent Power to deposit approximately Rs. 19.28 crore into the Consumer Welfare Fund in connection with a case regarding GST on ocean freight.
The Income Tax Department also imposed a penalty of approximately Rs. 2.32 crore on the company on minor technical grounds.
Government Procurement:
According to the latest report by the Gujarat Energy Regulatory Commission (GERC), the average power purchase rate for Torrent Power was fixed at approximately Rs. 7.77 per unit for the year 2023-24.
In 2022-23, this rate stood at approximately Rs. 4.88 per unit.
When the government procures renewable energy from Torrent or other private producers, the cost typically ranges between Rs. 2.50 and Rs. 4 per unit.
However, when electricity is purchased to meet additional demand during the summer months, the price can exceed Rs. 8 to Rs. 10 per unit.
Protests:
Protests by Political Parties in Ahmedabad
In July 2020, the Aam Aadmi Party staged a protest in Ahmedabad against Torrent Power’s “exorbitant electricity bills.” In April 2016, the AAP also announced plans to stage protests in Surat and Ahmedabad against high electricity rates and ‘regulatory charges.’
In March 2026, the Congress party, led by Amit Chavda, pledged to launch a ‘Jan Andolan’ (people’s movement) in the interest of citizens, raising its voice against the ‘looting’ allegedly being perpetrated by the company.
In 2020, the Youth Congress initiated a petition demanding the waiver of electricity bills for a three-month period during the COVID-19 pandemic and the adjustment of security deposits.
In 2020, during the lockdown, residents gathered near the Torrent Power office in Ahmedabad’s Shahibaug area to protest against inflated electricity bills.
In 2020, the residents of Amraiwadi staged a large-scale protest against the company over the issue of billing irregularities. Also in 2020, traders in Ahmedabad’s Ratanpol market protested against receiving exorbitant bills despite their shops remaining closed.
In 2013, the Consumer Education Research Society (CERS) filed a complaint with the GERC against the practice of passing the burden of coal costs onto consumers.
In 2026, a Public Interest Litigation (PIL) was filed in the High Court challenging the levy of ‘regulatory charges,’ prompting the Court to issue a stay order on their collection.
Consumers are outraged over the issuance of estimated bills without actual meter readings being taken.
Numerous legal complaints have been filed against the arbitrary disconnection of electricity connections over pending bills.
Objections are frequently raised regarding the erroneous collection of GST or other retrospective charges.
Congress
In 2018, under the leadership of Ahmedabad City Congress President Shashikant Patel, a protest was organized against the alleged ‘looting’ of consumers by Torrent Power. The protesters demanded the withdrawal of hidden charges and the rollback of electricity tariff hikes. A rally was held, and demonstrations were staged, during which the City Congress President sustained injuries and was compelled to seek medical treatment at a private hospital.
Prior to this, the Aam Aadmi Party (AAP) had also staged a protest movement. But then, it strangely ceased to move forward.
The Congress party raised 10 demands against Torrent Power, and signboards were vandalized.
Citizens are being openly fleeced; the benefits that customers used to enjoy under the Ahmedabad Electricity Company (AEC) are no longer available under Torrent Power today.
The Ahmedabad City Congress has appealed for the implementation of these demands starting from the current billing cycle.
What constitutes this ‘looting’?
– A fixed charge of ₹130 is being levied—an amount that is ₹50 to ₹80 higher than in cities like Mumbai and Pune. Ahmedabad…
– A fixed charge of ₹50 should be levied in these instances as well.
– Bills should be generated in language that the common man can understand.
– The benefits accruing to customers from the replacement of old meters with new ones should be publicly announced.
– The per-unit charge should be reduced.
– Bills should be issued on a monthly basis rather than bi-monthly. — In Ahmedabad—unlike in other states—units are calculated in slabs of 0 to 50, rather than in multiples of 0 to 100.
– Torrent’s annual reports should be published in newspapers. Profits should be utilized for public welfare works.
– An additional consumer scheme should be announced for Below Poverty Line (BPL) families.
– A cap should be placed on the one-time connection fee.
– If a connection is re-established, a fresh security deposit should not be demanded. The practice of arbitrarily disconnecting customer services should be discontinued.
– If a bill is paid within the stipulated deadline, the 5% rebate—which was previously in effect—should be reinstated.
– Interest on security deposits should be announced and paid.
– Rajesh Soni of the Congress party also led a similar protest movement in Narol.
– **Compensation**
– In 2026, the High Court delivered a significant verdict in a case dating back 30 years. In 1991, a young man died in Ahmedabad’s Naranpura area after coming into contact with sparks from a 132 KV high-tension power line while laying TV cables. The young man’s mother filed a claim for compensation, citing gross negligence on the part of the power utility companies. The mother passed away during the course of the trial. Consequently, the court ordered that the compensation be awarded to the deceased’s siblings in her stead. Citing the negligence of the power companies, the City Civil Court ordered the payment of ₹1.90 lakh in compensation, along with an interest rate of 9%. Torrent Power and the GEB filed an appeal in the High Court challenging this order. During the proceedings, both companies attempted to shift the blame onto one another.
– **Protests in Surat**
– In Surat, protests and grievances directed against Torrent Power primarily revolve around excessive billing, arbitrary fee hikes, and administrative operational procedures. Residents and organizations in Surat are strongly protesting against the repeated hikes in fuel surcharges and regulatory charges imposed by Torrent Power. Organizations such as the Chamber of Commerce have also raised objections regarding the tariff petitions.
Several complaints have been filed in the Consumer Court against the company’s practice of disconnecting electricity supply to recover outstanding dues. In one instance, the Consumer Court even imposed a fine of ₹50 lakh on Torrent Power for illegally disconnecting power supply.
There is widespread anger among residents in areas of Surat—such as Varachha, Katargam, and Singanpur—over frequent and prolonged power outages attributed to maintenance work.
Serious safety concerns have been reported regarding Torrent’s meter boxes in densely populated areas like Varachha, following incidents of explosions.
The Aam Aadmi Party (AAP) and other local organizations have been staging frequent sit-ins and rallies to protest against the hike in electricity tariffs. Electricity Rates Increased:
The government informed the Commission that four state-run power utilities had increased electricity rates by 2.47 percent—or 13 paise per unit—during the 2015-16 fiscal year. In contrast, Torrent had raised its rates by 2.36 percent, or 15 paise per unit.
Price Hike:
A proposal for a price hike was submitted in 2019. It sought to increase electricity rates by 21 paise per unit for the financial year 2020-21. TPL requested an increase of 15 paise per unit in energy charges and 6 paise in fixed/demand charges.
For the past two years, the company has been charging customers in Ahmedabad and Gandhinagar at a rate of ₹15 per unit. It also proposed the imposition of a regulatory charge of 35 paise.
The state-run power utilities, however, proposed against any increase in tariffs.
Power Cuts:
Torrent Power typically implements scheduled power cuts in Ahmedabad only when major maintenance work or power line shifting operations are required. The company does not impose prolonged, city-wide power cuts simultaneously; instead, it operates on an area-specific basis.
Every year during May and June, various localities across Ahmedabad experience scheduled power cuts lasting 4 to 6 hours to facilitate pre-monsoon maintenance work.
In several instances during 2022 and 2023, areas in West Ahmedabad experienced sudden, unscheduled power outages lasting anywhere from 2 to 8 hours due to cable faults.
For several years now, Ahmedabad has not witnessed any major city-wide grid failures, ensuring a continuous 24-hour power supply. According to ratings issued by the Ministry of Power, Torrent Power boasts a remarkably high ASAI (Average Service Availability Index). Consequently, electricity is available in Ahmedabad 99.9% of the time.
**Stolen Meters**
As of 2026, a major scam is unfolding in areas served by Torrent Power—including Amraiwadi, Danilimda, Behrampura, and Jamalpur—where unscrupulous individuals are stealing electricity meters and illegally reconnecting them to other locations, resulting in electricity theft amounting to millions of rupees.
**Investment**
In that same year, Ahmedabad-based Torrent Power signed an agreement to establish a 2,000 MW power project in Pipavav, entailing a substantial investment of ₹8,000 crore.
**Power Grid**
Torrent Power Grid Limited was incorporated on August 25, 2005. Its Board of Directors comprises Vasantlal Ambalal Shah, Indu Shekhar Jha, Jinal Sudhirbhai Mehta, Pradeep Kantilal Parikh, Deepak Kumar Singh, Parvinder Sohi Behuria, Robin Subramaniam, and Robin Kunwaram.
**Pollution**
Torrent Group’s 362 MW thermal power plant—a coal-fired facility located in Ahmedabad—has been the subject of regulatory oversight. This facility accounted for 66% of the total air pollution generated within the Surat-Ahmedabad region. According to official data from Torrent Power, the Sabarmati plant—which has a capacity of 362 MW—holds a stock of approximately 12 metric tons of fly ash and 21 metric tons of pond ash.
This ash is utilized in the production of cement and bricks, as well as in the construction of highways and flyovers.
According to a report by the CAG (Comptroller and Auditor General), regarding the total air pollutants (PM, NOx, and SO2) in Ahmedabad city…
The share attributed to the Torrent Power plant has been recorded at approximately 66%.
According to data from 2018–19, Torrent Power alone emitted approximately 45,794 kg of air pollutants out of Ahmedabad’s total daily emission load of 69,123 kg.
Between 2014 and 2019, the company improperly disposed of approximately 192,000 metric tons of fly ash along the banks of the Sabarmati River and in other areas. This resulted in environmental damage.
In 2024, the company’s total carbon emissions were recorded at approximately 6.77 billion kg CO2e.
The company regularly submits environmental compliance reports to the GPCB and the MoEF. To mitigate pollution, the country is increasing the share of renewable energy, which currently accounts for approximately 61 percent of its total capacity.
Surat
In Surat, Torrent Power’s coal-based power plant is not operational within the city limits. The direct pollution caused by Torrent Power in Surat is significantly lower compared to that in Ahmedabad. The company primarily operates gas-based power plants located near Sujen and Utran, close to Surat. According to the company’s annual report, its total greenhouse gas emissions in 2024 amounted to approximately 6.67 million tons of CO2e, originating primarily from its gas-based plants. However, these emissions are 50–60% less polluting than those from coal-based plants. Torrent Power is now placing a greater focus on green energy (solar and wind) in Surat and the surrounding regions. Funding to Political Parties: In 2024–25, a total of ₹3,826 crore was donated to various political parties. Of this amount, 82 percent was donated to the BJP. The Prudent Electoral Trust contributed a total of ₹2,180 crore to the BJP. The Trust received its funding primarily from companies such as Jindal Steel and Power, Megha Engineering, Bharti Airtel, Aurobindo Pharma, and Torrent Pharmaceuticals. Prudent also made donations to the Congress, TMC, Aam Aadmi Party, and TDP; however, approximately 82 percent of its total funds—amounting to ₹2,668 crore—went to the BJP alone.
In 2023–24, out of the ₹404 crore received by political parties from Gujarat, a total of 1,373 donors—comprising corporate groups and business houses—contributed ₹365 crore in donations to the BJP.
Corporate groups and business houses, acting through 1,400 industrial entities, contributed 90 percent of the funds to the BJP.
The Congress received donations totaling ₹2,027 crore from six corporate groups.
Between the financial years 2004–05 and 2018–19, national political parties received ₹1,027 crore. However, the identities of the donors who contributed the remaining ₹11,234 crore were not disclosed. This secret was subsequently revealed following an order issued by the Supreme Court of India. Between April 1, 2019, and February 15, 2024, industrialists purchased 22,217 electoral bonds; of these, 50 percent were donated to the BJP, while a mere 11 percent went to the Congress. The Torrent Group, for instance, contributed ₹184 crore.
The companies that purchased electoral bonds include Grasim Industries, Megha Engineering, Piramal Enterprises, Torrent Power, Bharti Airtel, DLF Commercial Developers, Vedanta Limited, Apollo Tyres, Lakshmi Mittal, Edelweiss, PVR, Keventer, Sula W, Welspun, and Sun Pharma. Notably, however, the list of companies that purchased electoral bonds does not include those belonging to the Adani, Tata, or Ambani groups.
Which company purchased how many bonds? Torrent Group: Rs 184 crore
Welspun Group: Rs 55 crore
Lakshmi Mittal: Rs 35 crore
Intas: Rs 20 crore
Zydus: Rs 29 crore
Arvind: Rs 16 crore
Nirma: Rs 16 crore
Alembic: Rs 10 crore
The BJP received 47% of the total bond funds—amounting to Rs 6,061 crore.
During the 2017 Gujarat Assembly elections, the AB General Electoral Trust contributed a substantial sum of Rs 12.50 crore to the BJP, whereas the Congress received only Rs 1 crore. Consequently, this growing trend of channeling election funds to a specific political party through trusts established by industrial entities is now being viewed as a serious threat to democracy. (Google Translation from Gujarati)
